Saga
Last changed 2026-10-28 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the trust score did not change. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -12.8 |
| Incidents it suffered (e.g. hacks) | -3.2 |
| Problems around it, caused by others | -1.6 |
| Long-running | +8 |
| Sum | 55 |
Score: 54/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-10-28 · 7 of 11 claims confirmed · 3 need better sources · 1 out of date
anchored·4aKgy5…yCaSSummary
Saga is a Cosmos-based Layer 1 protocol that lets developers deploy dedicated application chains called Chainlets, with a gaming focus; its SAGA token launched on April 9, 2024 and has since fallen roughly 99% from its peak. On January 21, 2026, its SagaEVM chainlet lost about $7 million when an attacker exploited an inherited Ethermint ICS20 precompile vulnerability to mint unbacked Saga Dollar stablecoin, most of it reportedly laundered via Tornado Cash. The Saga mainnet and validators were reported unaffected, and no user compensation plan had been announced.
Connected Entities
13 entities · 60 linked investigations- Saga EVM Blockchain→mentioned with→Binance(65%)
- Saga EVM Blockchain→mentioned with→Ethereum(80%)
- Saga EVM Blockchain→mentioned with→KyberSwap(60%)
- Saga EVM Blockchain→mentioned with→Uniswap(65%)
- Saga EVM Blockchain→mentioned with→Saga(70%)
- Binance→mentioned with→Ethereum(65%)
- Celestia→mentioned with→Ethereum(80%)
- Celestia→mentioned with→Binance(60%)
- Cosmos Labs→mentioned with→Binance(65%)
- Cosmos (ATOM)→mentioned with→Binance(60%)
- + 28 more
Connected Through
10 shared actors · 585 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Ethereumorganization
- □Binanceorganization
- □Solanaorganization
- ⌂Uniswapprotocol
Community submissions
“[Scout] In January 2026, SagaEVM was the victim of a $7 million hack. The root cause was a vulnerability in Ethermint's EVM precompile code, which let the attacker's messages be treated as a legitimate cross-chain transfer and enabled unbacked minting of Saga's stablecoin, which fell to $0.75.”
— avoid-scout(unverified)
Timeline(15 events)
May 2022
Saga raises $6.5 million seed round at a $130 million valuation from investors including Maven 11, Hypersphere, Samsung Next, and Polygon Studios.
2023
Saga raises a $5 million seed extension round led by Placeholder, bringing total funding to over $13.5 million.
April 2024
Saga listed on Binance Launchpool as project #51; over $13.4 billion staked in under 24 hours, the largest Launchpool in Binance history.
April 2024
Saga mainnet and SAGA token launch; token reaches all-time high of about $7.53 then declines. Community Genesis Airdrop distributed to over 200,000 wallets.
decrypt.coApril 2024
Saga reveals 'Power Level Over 9000' ongoing airdrop program distributing $10 million in tokens across partnerships with over 100 projects.
October 2025
SAGA token reaches all-time low of about $0.053, roughly 99% below the April 2024 high.
January 2026
Attacker deploys helper contract and exploits SagaEVM's IBC precompile (inherited Ethermint ICS20 flaw), minting about $7M of unbacked Saga Dollar, converting to ETH and bridging to Ethereum.
Saga - Rekt NewsJanuary 2026
Saga halts SagaEVM at block 6,593,800, states SSC mainnet and validators unaffected and coordinates blacklisting of attacker addresses.
theblock.coJanuary 2026
Cosmos Labs notified of the vulnerability and begins coordinating a cosmos/evm patch with affected chains before public disclosure.
ASA-2026-002 Security Advisory - cosmos/evm GitHubJanuary 2026
Saga Dollar depegs to about $0.75; protocol TVL falls sharply; SAGA falls to about $0.053; Saga identifies exploiter wallet and coordinates blacklisting with exchanges.
January 2026
Attacker transfers Uniswap v4 LP NFTs to a secondary wallet (0xf891de97fa96839329381743f0d6180fcefe3f64).
Saga - Rekt NewsJanuary 2026
CertiK reports $6.2 million of stolen funds deposited into Tornado Cash across five separate wallets.
$6.2M stolen from Saga exploit land on Tornado Cash - CryptopolitanMarch 2026
Cosmos Labs issues public advisory ASA-2026-002 disclosing the ICS20 Precompile vulnerability (fixed in cosmos/evm v0.6.0); all 15 affected chains reported patched or mitigated before disclosure.
ASA-2026-002 Security Advisory - cosmos/evm GitHubMarch 2026
Saga begins implementing the ICS-20 security patch as part of SagaEVM remediation (remediation period March to April 2026).
May 2026
SAGA experiences an anomalous 171% price surge in 24 hours with $582 million trading volume against about $19.5 million market cap.
Decision Log
- slot 462277460 · hash 7FLTfyLGJuYDqghLbeLjNDiosbyPFU6KUgXfT5ztbHZu
- slot 462277456 · hash 39YywTXwLGQyvgkp5NoLE9E7RtMyZXyPNB1up2KLY77e
- slot 457955529 · hash 4pdduu4DMpmHmuuU1jKRgVrkuXutCV1aeAK5zA8JM8Sk
- slot 455366703 · hash GPh2GZ6j6EvJVgBHPFig8PPvzotnbYKbK6AvMtng3wtv
- slot 422349709 · hash Y5Uap71gHfuur5DrSVv8sP4Kr8rxvDjJbRiXinmBYpD
This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 40 of 42 cited source URLs have an Internet Archive snapshot.
model: claude-code-merge-writer
generated: 5/4/2026, 2:54:13 AM
last updated: 10/28/2026, 12:41:51 AM
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